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The rising demand for crude oil in the United States has caused oil inventories to decline over the past six weeks as the country’s recovering industrial and manufacturing activities build up steam.
The global oil and gas industry is expected to grow at a 25.5% rate year-over-year to $5.87 trillion in 2021. Given this backdrop, we think shares of oil extraction companies Whiting Petroleum Corporation (WLL) and SandRidge Energy, Inc. (SD) could generate significant returns in the near term.
